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mcclatchy says 3q earnings lower, ad revenue down - digital advertising signs
NEW YORK—
The downturn in the advertising market did not show signs of a slowdown in the company.
Last quarter.
The newspaper publisher has cut spending, partly because of layoffs this year, but advertising and distribution revenues have fallen.
The recession has exacerbated the challenge of newspapers making money from the Internet, as print readers and advertising fees have fallen.
Mclaric suffered more than some of his peers, because its two largest newspapers, The Miami Herald, and the Sacramento Bee in California, are especially in markets hit by the housing downturn.
Coupled with weak car sales, advertising was affected.
Mcclage made $9.
In the quarter ended, $4 million a share, or 11 cents. 25.
It fell 21% from $11.
$9 million a year ago.
Revenue fell 8% from $0. 3 billion to $0. 328 billion.
Advertising revenue fell by 10%.
Earlier this week, the New York Times Company
USA Today publisher Gannett
Report a smaller decline in the third quarter
Quarterly advertising revenue
Maclage's circulation income fell by 3%.
The company said daily newspaper circulation fell by 4%, but Sunday's circulation increased by 2%, adding that Sunday's circulation increased advertising revenue from any day of the week.
Digital advertising revenue declined slightly-
Less than half of the percentage-
But that's because the company has tied some digital ads to print ads.
Revenue from independent digital businesses increased by 9%.
Digital advertising currently accounts for 21% of mclaric's total advertising revenue, up from 19% in 2010.
Mclaric stocks based in Sacramento, California
Rose 8 cents to close at $1, up 5%. 63 Friday.
Stocks have fallen nearly two.
Thirty times the value since the beginning of this year.
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